The Madison Group arranges a $1,275,000 cash out refinance loan on an 18-unit apartment building in Tennessee.

The Madison Group (TMG), a leading national lending source of multifamily real estate financing, arranged a $1,275,000 loan to refinance an 18-unit apartment building in TN.  Our sponsor, a repeat client, had only owned the property for a short time but had been able to increase rents quickly to a market level.  Our client, a large investor in various commercial real estate assets and classes, wished to refinance and cash out some of the equity so that he could reinvest it in other projects.  The challenge was that he had only owned the property for a short time and needed to convert the added value of the rent increases into cash.  TMG’s commercial finance advisor, Michael Estes, was able to secure a lender that recognized the value added and allowed for cash out.  As an added value, the refinance was also able to provide for a longer amortization and lower rate.  Our client has already begun discussing another deal with TMG.      

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